markymar
- 15 Aug 2005 15:14

Rockhopper Exploration ("Rockhopper") (AIM: RKH) is an AIM listed oil and gas exploration company based in the United Kingdom.
Rockhopper has licences to explore for oil and gas in the North Falkland Basin, a basin with two proven petroleum systems and a proven high quality oil source rock.
The company was admitted to AIM in 2005 and has since completed an extensive work programme in the area, including two 2D seismic surveys, a 3D seismic survey, four CSEM lines, site surveys and benthic sampling.
In February 2010, the Ocean Guardian drilling rig arrived in Falklands waters to carry out a multi-well drilling campaign. Rockhopper drilled an exploration well on its Sea Lion prospect during April and May 2010, the result of which is the first oil discovery and Contingent Oil Resource in the North Falkland Basin.
With the well on the Sea Lion prospect successfully flow tested during September 2010, the company is fully funded to undertake an extensive exploration and appraisal programme across all of its acreage during 2011.

A little of a long read so I have cut out the other companies it mentions but if want to read full story go to link.

Framlington's star manager
David Burrows, This is Money
17 October 2005
THIS week, in our regular Fundwatch column, David Burrows talks to the man behind the top-performing Framlington Monthly Income fund.

GEORGE Luckraft's Framlington Monthly Income fund has a record for consistent top performance that other fund managers must envy. The fund currently has a top-five ranking over one and three years showing returns of just under 70% over three years.

Luckraft explains some of the key themes that have helped him to outperform most of his peers.

He identifies oil as a major play. 'The oil price is likely to stay above $50 a barrel for the foreseeable future with a danger that it could spike considerably higher if we get either unrest in some of the oil exporting nations, or we see new violence in Iraq,' he says. 'There's plenty of oil in Iran and Iraq but with their regimes not particularly stable, it will be difficult to get the investment that's required there. Also, the quality of crude in Iraq is declining due to a lack of proper operations within the fields, which is just worsening the current shortages.'

Oil companies within Luckraft's portfolio include Royal Dutch Shell and BP.

'And finally, we added Rockhopper Exploration to the fund. The company has oil exploration rights in the Falkland Islands. On one of their blocks, Shell found oil which was uneconomic when oil prices were well below $20 a barrel. At current levels, the economics could work well.'

Rockhopper Exploration plc (Rockhopper) is pleased to announce it has entered
into a contract with Geophysical Service Incorporated (GSI) to perform a 2D
seismic survey over licences PL023 & PL024 in the North Falkland Basin which
should be completed by the end of Q1 2006. The survey will consist of
approximately 900 km of acquisition.

Licences PL023 and PL024 extend over an area of 4200 km2 in water depths of
between 120m and 200m. Rockhopper has now completed an interpretation of the
existing 1832 km of 2D seismic data covering the licenced areas and the results
confirm the presence of a number of prospects and some 17 leads.

The J1 prospect is a robust 4 way closure, with potential oil-in-place of over
300 million barrels as assessed by Scott Pickford Limited. The J Central and J
North prospects have the potential to contain 90 and 30 million bbls
respectively in place based on the company's own estimates. The leads range in
size individually from 70 million bbls potentially in place to over 850 million
bbls potentially in place based on the company's own estimates.

The new survey is intended to better define the J1 prospect in licence PL024 as
well as a number of other leads and prospects in PL023 and PL024 which are have
been identified on the existing 2D data.

Rockhopper's other 100% licences, PL032 & PL033, are covered by approximately
1540 km of 2D and 368 km2 of 3D seismic data.

Licences PL032 and PL033, which lie in 350m to 500m of water contain a number of
prospects and leads which have been mapped at various levels. Most of these
prospects are downfaulted closures against the main fault at various levels on
the eastern basin margin. These range in size from 290 million barrels to 620
million barrels potentially in place according to the company's own estimates.
In addition to the downfaulted closures, two large 'pinch-out' prospects have
been mapped, one with over 150 million bbls potentially in place, the other with
over 1.5 billion bbls potentially in place based on the company's own estimates.
Further 3D seismic is required to develop the acreage for potential drilling.
Funding is in place for this new 3D and a programme has already been designed.

2D survey to sweep Falklands
Calgary-based seismic outfit Geophysical Services has landed a contract to shoot a 2D survey on acreage off the Falkland Islands operated by London-based minnow Rockhopper Exploration, writes Iain Esau.
GSI's shoot will cover 900 kilometres of data over licences PL 023&PL 024 in the North Falkland basin and should be completed by the end of March next year.

Rockhopper has completed an interpretation of the existing 1832 kilometres of 2D data covering the licensed areas and said the results confirm the presence of a number of prospects and about 17 leads.

One prospect has the potential to hold up to 90 million barrels of oil in place while the leads range in size to over 850 million barrels in place.

The new survey is intended to better define the larger of the two prospects, J1 in PL 024 as well as other leads and prospects in both licences.

Oilport.net::.. - 24.10.2005
Geophysical Services Inc (GSI) has been contracted by Rockhopper Exploration Plc for a new seismic survey in the North Falklands Basin.

The 2D 900 km (562-mile) survey covering license areas PL023 and PL024 is due for completion by the first quarter of 2006 and will target prospects previously defined by Rockhopper, which listed on London’s Alternative Investment Market in 2004.

Rockhopper’s licence blocks range in water depth from 120 to 200 m (393 – 656 ft) and cover an area of 4,200 sq. km (1,600 sq. miles). GSI’s new survey will focus on leads identified in data from a previous 1,832 sq. km (707 sq. mile) 2D survey which uncovered several prospects and 17 leads.

Among them is the J1 prospect, a four- way dip closure with potential oil in place of over 300 million barrels, according to an assessment by Scott Pickford. Other prospects J Central and J North are each assessed as having potential for 90 and 30 million bbl, according to Rockhopper’s own estimates. Other leads range in size from 70 to over 850 m bbl of potential oil in place.

“The new survey is intended to better define the J1 prospect in licence PL024 as well as a number of other leads and prospects in PL023 and PL024, which have been identified on the existing data,” Rockhopper said.

The company, which has a total of four North Falklands production licences covering 5,800 sq km, (2,238 sq. miles) also plans a further 3D seismic survey for its other licences, PL 033 and 034 where potential prospects ranging from 150 to 1.5 million bbl of oil in place have been identified.

Notes to editors
The Rockhopper Group started trading in February 2004 to invest in and carry out
an offshore oil exploration programme to the north of the Falkland Islands. The
Group, which floated on AIM in August 2005, is currently the largest licence
holder in the North Falkland Basin and owns a 100 per cent. interest in four
offshore production licences which cover approximately 5,800 sq. km. These
licences have been granted by the Falkland Islands government.

In total, the Board and its Consultant, the Falklands expert David Bodecott,
have over 120 years experience in the oil industry, with specific expertise in
the field of exploration and in the region itself.

Chairman's report

This interim report for the six months ended 30 September 2005, is the first
report following our successful placing and listing on AIM on 15th August 2005.
As expected the Group incurred a loss for the period.

The net proceeds of the placing of #13.9 million are on interest bearing
deposits along with funding already in the Group and will be drawn down as
required in line with our plans for the business.

Rockhopper Exploration is currently the largest acreage holder in the North
Falkland Basin with 100% interests in four offshore production licences (PL023,
PL024, PL032 and PL033) which cover approximately 5,800 sq. km. In addition the
Group has agreed to farm-in for 7.5% in Desire Petroleum plc's licences PL03 and
PL04 where Desire expect to drill three exploration wells.

PL023 and PL024 were awarded in November 2004 and cover an area of 4,200 sq. km
in water depths of less than 200 metres. The licences are close to the Falkland
Islands themselves and their southern-most edge is located only 25 km from the
Islands. PL023 and PL024 are already covered by 1832 km of 2D seismic data. The
Group has signed a contract with Geophysical Service Incorporated (GSI) to
undertake a new 2D seismic survey over approximately 900 line kilometers. The
survey should be completed early in 2006, with processing and interpretation of
the data thereafter.

PL032 and PL033 were awarded in June 2005 and cover an area of 1,620 sq. km in
water depths of between 350 and 500 metres, they are already covered by 1546km
of 2D and 368 km2 of 3D seismic data. Two wells have been drilled previously on
these licences in 1998 by Shell when the oil price was approximately $10 per
barrel and both demonstrated the presence of hydrocarbons, one flowing live oil
to the surface. A new and significant 3D seismic programme has been designed to
cover this acreage.

Prospects and leads: Rockhopper's exploration team has reinterpreted the
existing 2D and 3D seismic data covering its licences and has identified a
number of prospects and leads which have the potential to contain significant
deposits of hydrocarbons. These will be better defined following the planned
acquisition of new 2D and 3D seismic data.

PL03 and PL04 are operated by Desire Petroleum plc. Rockhopper will earn an
interest of 7.5% of these licences by contributing 15% of the dry hole cost of
the expected 3 well exploration programme. The recently acquired 3D seismic data
on these licences is very encouraging and we look forward to the commencement of
drilling operations once Desire secures a suitable rig.

In summary, Rockhopper has a very exciting and prospective exploration portfolio
in relatively shallow water, at a time that the oil industry is fiercely
competing for access to that very type of opportunity.

Our strategy in the Falklands is to mature a number of high quality drillable
prospects on our 100% held acreage and to be ready for a substantial drilling
campaign once the availability and cost of drilling units are more favourable.

ROCKHOPPER GETS SET FOR DRILLING WORK
Next Story | Previous Story | Back to list
Be the first reader to comment on this story
DAVID TELFER

09:00 - 07 December 2005
Oil and gas explorer Rockhopper Exploration, which is the largest acreage holder in the north Falkland Basin, said yesterday it was aiming to mature a number of drillable prospects.

Chairman Pierre Jungels said the company's strategy was to be ready to drill on its shallow-water prospects in the south Atlantic when the availability and cost of drilling units was more favourable.

Rockhopper began trading in February last year and raised £13.9million net of expenses in a share placing this August, when it listed on London's Alternative Investment Market.

It has 100% of four licences in the north Falkland Basin totalling almost 2,240 square miles, where existing seismic data has already identified a number of significant prospects. More 2D and 3D seismic acquisition is planned.

The company has also agreed with Desire Petroleum to farm in to 7.5% of two adjacent licences where Desire expects to drill three exploration wells.

Rockhopper posted pre-tax losses of £378,000 for the six months to September 30 compared to losses of £3,000 a year earlier. The firm ended the period with cash in hand of £15million.

Falklands : Rockhopper's Sam Moody on Familiarisation Visit
Submitted by Falkland Islands News Network (Juanita Brock) 14.12.2005 (Current Article)
Sam Moody has been in the Falklands to see the people he works with long distance over the phone and via e-mail.

ROCKHOPPER’S SAM MOODY IN THE FALKLANDS FOR FAMILIARISATION VISIT

By J. Brock (FINN)

Mr. Sam Moody, Managing Director of Rockhopper Exploration plc, is visiting the Falklands to meet first-hand the people he will be working with during forthcoming 2D seismic surveys that will be carried out in the North Falkland Basin in Tranche “B” formerly operated by Shell, Tranches “C/D” and Licence areas 23 and 24. At the moment he is focusing on Health and Safety and the Environmental Impact Assessment that is soon to be published in the Falkland Islands.

GSI Admiral will be used to do a 2D survey of the above mentioned areas, with 3D not necessary unless there is a good prospect. 3D will not be done on the leads. Mr. Moody said there was one area –J-1- where there may be no need of 3D because prospectors are certain that the area is generating hydrocarbons.

At any rate, a 3D boat will be needed as, according to Mr. Moody, GSI Admiral is kitted out for 2D. The scenario with boats and rigs remains that they are hugely expensive due to the high demand on them as well as the high price of hydrocarbons products.

Argos/Evergreen, Rockhopper Exploration plc and Desire Petroleum are working together in the North Falkland Basin and plan to drill three holes at a cost of $50 Million.

According to Mr. Moody when Shell operated Tranche “B” they drilled through the source rock and when the drill bit and pipes were taken up there was crude on the equipment. Though the source rock in that area is 1000 metres thick,, per cubic centimetre it is the second best source rock in the world.

Rockhopper Exploration is doing all the preparatory work it can as it waits for a rig to become available.

Mr. Sam Moody
Managing Director Sam Moody is in the Islands last week meeting with Government officials and getting to know the Falklands.
Rockhopper holds four exploration licences - two wrap around the Desire I and L tranches and two are in tranch B formerly held by Shell - and also has acreage in a 7.5% joint venture with Desire Petroleum in tranches C and B.

This is Mr Moody’s first visit to the Falklands; he said, “I really wanted to come down to understand all about the Islands and see what it was that you wanted to protect as well as what it is we’re trying to find.”

Rockhopper is about to commence a 2D work programme in their southern-most licences, those that wrap around Desire I and L: “We have a contract with GSI to operate the Admiral and we’re hoping to complete that work by February 15 when the fishing season starts.”

Rockhopper is a partner of Desire in the upcoming drilling programme. “Desire are the operator of that and we’ve farmed in to it. We are both working towards that drilling as far as we can, given that there is no available rig at the moment.

“All you can do if you’re in our position is get as ready as you can be and if a rig becomes available then you can act very quickly. But as for when that will be, I can’t give you a definitive answer.

This preparatory work includes an Environmental Impact Assessment (EIA) which Desire embarked upon early in the year in conjunction with consultants RPS Group plc. The EIA is expected to be published for public consultation in the New Year.

Rockhopper’s other work is in the northern most licences in the area formerly held by Shell, which is adjacent to Argos acreage: “Argos and ourselves are working closely together to try and organise a 3D survey.”

As for the seismic data analysed so far, Mr Moody says it is encouraging. “There is a lot more seismic data over the ex-Shell blocks than there are over licences 23 and 24 (in I and L). In those licences we have already identified one extremely attractive looking prospect and we’re going to collect additional seismic over that.

“Clearly there’s been no drilling that close to the Islands, all the drilling in ‘98 was further in the north, and in the ex Shell block which we now hold, it was the second well up there that recovered live oil to the surface.

“So, I think we’re as confident as one can ever be in out and out exploration that there’s a hydrocarbon in the basin; it’s really a question of whether or not one can find commercial viable quantities.”(PN)

Offshore Hydrocarbon Mapping plc ("OHM" or "the Company") has been awarded a
contract by Rockhopper Exploration plc, to conduct a Controlled Source
Electromagnetic Survey (CSEM) over a number of prospects including at least one
shallow water prospect in the North Falkland Basin.

This is one of OHM's first shallow water contracts since the Company formally
launched its shallow water CSEM service in November, and the first time that
CSEM will be used in the Falkland Islands. Until now, CSEM was most effective in
very deep waters, however OHM has designed a method that overcomes the technical
challenges of shallow water, and it can be used effectively in depths as shallow
as 50 metres.

The Falkland Islands Government has licensed exploration acreage to a number of
companies in water depths that range from 100 to 500 metres in the north and up
to 3,000 metres to the south and west of the Islands.

OHM's Chief Executive Officer, Dave Pratt, commented:

"Our shallow water service generated significant industry interest at the launch
last month and this early contract with Rockhopper Exploration is very pleasing.

"Given the relatively isolated nature of the Falklands, the highly variable
water depths and associated high costs of drilling, it is essential to
understand as much as possible about drilling prospects to minimize the risk of
dry wells. We will be applying leading edge CSEM techniques to Rockhopper's
prospects to help maximise their understanding."

OHM's survey method transmits an electromagnetic field into the earth, which is
modified by the presence of subsurface resistive layers. These changes in the
field are measured and the resulting data is processed to provide information on
the resistive structure of the subsurface.

Because hydrocarbon accumulations are generally very resistive, this method can
indicate the presence of oil and gas in water depths of as little as 50 metres
in certain circumstances, and can detect and map the edges of such
accumulations. This reduces the risk of drilling non-commercial exploration
wells and can reduce the need for appraisal drilling, thereby creating
considerable value for oil explorers.

The company listed on London's Alternative Investment Market in March 2004.

Specialist electro-magnetic survey company OHM has secured its first shallow-water contract with an award from Rockhopper Exploration for a survey programme off the Falklands.
Due to start this month, the work is to be carried out over the North Falklands basin in water depths as shallow as 140 metres.

OHM's previous commercial work has been in water depths of at least several hundred metres, where the "air wave" problem for its controlled source technique does not present itself.

Rockhopper Exploration plc will undertake an Electromagnetic Survey in the North Falklands Basin commencing Sunday 8th January 2006.

The survey will be undertaken by the research vessel "Aurelia", radio call sign 9HFI8 (NINE HOTEL FOX INDIA EIGHT). Depending on weather conditions the survey is expected to take around 20 days to complete. The “Aurelia” has a bright red hull and a white superstructure.

The “Aurelia” will place a number of receivers on the seabed along the length of the survey lines to be targeted at approximately 1-kilometre intervals. The receivers are left on the seabed for the duration of the survey period. When the receivers are in place on the seabed, the “Aurelia” will run towlines at 1.5 knots towing an electromagnetic source. This electromagnetic source is towed approximately 30 metres above the seabed, on an electro-hydraulic winch, approximately 100 metres astern of the vessel. On successful completion of the towlines the seabed receivers will be recovered by means of acoustic releasing mechanisms.

Rockhopper Exploration plc will undertake a 2D Seismic Survey in the North Falklands Basin commencing Monday 23rd January 2006.

The 2D seismic survey will be undertaken by the survey vessel “GSI PACIFIC” radio call sign HO3496 (HOTEL OSCAR THREE FOUR NINE SIX). Depending on weather conditions the survey is expected to take around 20 days to complete. The “GSI Pacific” has a dark blue painted hull and a white superstructure.

The “GSI Pacific” will tow a 6000 metre seismic production cable. The total offset from the rear of the vessel to the floating tail buoy, indicated by a flashing light, will be 6500 metres. The Survey Area to be targeted is bounded by the following coordinates

Offshore Hydrocarbon Mapping plc (OHM) is currently on location with the survey
vessel MV Aurelia in the North Falkland Basin conducting a shallow water
Controlled Source Electromagnetic Imaging (CSEM) survey for Rockhopper
Exploration plc. It is the first survey of this type to be conducted in the
Falkland Islands and will be keenly watched by the exploration industry, the
Falkland Islands Government and investors alike.

"In remote locations such as the Falkland Islands OHM's CSEM imaging technology
is especially valuable. Mobilising exploration drilling rigs to such frontier
areas, especially at times of very high rig rates, is expensive. As the cost of
CSEM surveys is significantly less than drilling, exploration companies are able
to investigate many more prospects than would have been the case if drilling was
their only recourse"

The data acquisition programme is being conducted over a number of prospects in
water depths of approximately 150 to 500 meters, using one of OHM's specialised
survey crews and incorporating OHM's proprietary EM source and receiver systems.
Although this is the first survey of its kind in the Falkland Islands,
feasibility modelling has indicated that the anticipated reservoir scenarios
should give a significant EM response.

Before mobilising for a CSEM survey, the prospect's electromagnetic response is
calculated and used to assess the influence of local structure, for example salt
or volcanic bodies, on the outcome of a survey. The sensitivity to target
parameters such as reservoir thickness, resistivity and lateral extent is
examined and the resolution with which these parameters can be determined is
quantified. In cases where there are competing geological interpretations of
existing data, modeling is used to ascertain to what extent these can be
distinguished using CSEM surveying.

Finally, acquisition parameters are optimized for the defined survey objective.
The model results are used to determine the source tow and receiver array
geometries and source transmission frequencies that will provide the best
resolution of target structures and properties.

Only when the modeling process has been completed, can OHM confirm that the
technique will provide conclusive indication of the presence of resistive layers
consistent with hydrocarbon reservoirs in the prospects modeled.

Once the data is gathered and processed, there are a range of 1D, 2D and 3D
inversion algorithms that can be applied to the data along with OHM's innovative
diffusive E-field focusing (DEFF) imaging technique, which allows resistivity
volumes of the earth to be created.

Dr. Lucy MacGregor, OHM's Chief Scientific Officer commented:

"The North Falkland Basin is a new area for the application of the CSEM
technique and as the targets are in relatively shallow water depths, the survey
provides us with the opportunity to further demonstrate our recently launched
shallow water technique.

"As with all our surveys, we take great care in the survey planning and
modelling stage to ensure that the data we do acquire is relevant and capable of
being processed and interpreted to give our clients a meaningful answer."

OFFSHORE Hydrocarbon Mapping is carrying out an electromagnetic imaging survey for Rockhopper Exploration in the North Falkland basin the first survey of its type to be conducted around the remote Falkland Islands in the South Atlantic, writes Christopher Hopson.
The data acquisition programme is being conducted over a number of prospects in water depths of about 150 to 500 metres using the survey vessel MV Aurelia. The survey is likely to be keenly watched by the exploration industry, the Falkland Islands government and investors.

Rockhopper Exploration plc ("Rockhopper") is pleased to give the following
progress report on its Falkland Islands exploration programme:

2D seismic survey: The GSI vessel, the GSI Pacific is now in the Falkland
Islands and has commenced the 2D seismic programme of approximately 900km over
Rockhopper's 100% licences PL023 and PL024.

The programme, which should take approximately 4 weeks, will add to the existing
1832km of 2D data covering licences PL023 and PL024 on which a number of
prospects and leads have already been identified.

Electromagnetic survey: Offshore Hydrocarbon Mapping plc has completed the first
controlled source electromagnetic (CSEM) survey over Rockhopper's "J1" prospect
in licence PL024. The survey vessel MV Aurelia has moved to the second survey
location.

The processing and interpretation of both the 2D and CSEM surveys is expected to
take approximately 3 to 4 months.

Pierre Jungels, Rockhopper's Executive Chairman commented: "Together with
existing information, the data gathered from the current seismic and CSEM
surveys will contribute significantly to our understanding of the exploration
potential of our Falkland Islands licences."